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In a conference call with students earlier this week, President Barack Obama made it clear that he understands many of the issues I raised in my book. Each institution, he said, should publish a chart showing exactly where each dollar of tuition money is spent. He also said that tuition money is being wasted on “amenities” that . . . → Read More: Obama says colleges need to be transparent about use of tuition money When I was doing the research for my book I spent a lot of time tracking down the reasons for the crippling tuition increases that were driving graduates deeply into debt. I looked at reductions in aid from states and thousands of valueless perks like water parks and hot tubs that colleges added to attract students . . . → Read More: “Administrative bloat” leads to tuition increases University business officers are meeting in San Francisco this week and listening to a presentation about how to cut millions of dollars from their payrolls: eliminate and consolidate administrative jobs. What a unique idea! For two decades colleges have been adding on administrative jobs like a snowball rolling downhill, adding bulk with every turn. Presidents add vice . . . → Read More: Cutting administration jobs could save colleges millions One of the consequences of the out-of-control spending at America’s party schools is that their alumni, faced with decades of payments for college loans, are increasingly saying no when fundraisers ask them for money. It’s easy to see why. The average college student has racked up $23,000 in student loans and $3,000 in credit card debt and . . . → Read More: College alumni donations: Once bitten, twice shy One of the major theses of my book is that the reason for the skyrocketing cost of college tuition, which is increasing faster than health care or gasoline, is because colleges are spending more and more money for student perks that have little to do with education. I’ve documented expenditures for hot tubs, climbing walls, concierge services, . . . → Read More: Colleges spending more tuition money on recreation |
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